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Foresight saga continues with launch of second VCT

The managers of the UK’ top-performing venture capital trust are looking to raise 35m with a second VCT.

Foresight 2 VCT aims to provide investors with attractive returns from a portfolio of unquoted UK high-growth companies. Minimum investment is 2,000 and the closing date is April 5, 2005.

VCTs have been given a boost this year after the Government announced they will be entitled to 40 per cent income tax relief for two years.

The Foresight Technology VCT is the top-performing VCT out of 78 launched since 1996. It is showing a total return of 247p on an investment of 100p. It has paid out dividends of 1 per share in 2000 and 52p per share this year.

Foresight Technology VCT board director Bernard Fairman says: “Our aim for Foresight 2 VCT is to tap into periods of rapid growth in a range of developing unquoted companies. We expect that the many new Aim funds will provide our new VCT with improved exit routes.”


Zurich set to unify UK life firms

The restructure is expected to take place on January 1, 2005 when the combined group will be renamed Zurich Assurance. The businesses which will be brought together in the single operation are Allied Dunbar, Eagle Star, Zurich, City of London Insurance Company and Pilot Assurance Company. Zurich says planholders&#39 terms and conditions will stay the […]

Aon has us in creases

No s;@!, Sherlock. A survey by Aon Consulting says more UK workers than ever are willing to sacrifice salary for more work benefits. The key finding from Aon is that over a third of Scottish people surveyed wanted to take advan-tage of an ironing service as part of their pay package. Until the benefit service […]

Public backs ABI call for reform

The ABI says the public is backing its call for reform of state pensions and a shift away from means&#39 testing. Its quarterly pensions and savings index shows that 50 per cent of people would save or increase their saving for retirement if the Government promised it would not reduce entitlements to state benefits. Thirty-one […]

Buoyant Bestinvest looks for buys as profits rise by 43%

Bestinvest profits leapt by 43 per cent to £2.59m for the year to the end of May, up from £1.8m the previous year. Turnover rose by over 20 per cent from £5.31m to £6.61m. The firm says the business figures provides sufficient capital for it to go on the acquisition trail. Chairman John Spiers says: […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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